9,437 Shares in The Interpublic Group of Companies, Inc. (NYSE:IPG) Purchased by Safe Harbor Fiduciary LLC

Safe Harbor Fiduciary LLC purchased a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 9,437 shares of the business services provider’s stock, valued at approximately $298,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of IPG. Benjamin Edwards Inc. grew its holdings in Interpublic Group of Companies by 73.8% during the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after purchasing an additional 375 shares during the period. Catalyst Capital Advisors LLC bought a new position in Interpublic Group of Companies during the third quarter worth about $26,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Interpublic Group of Companies by 652.2% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock worth $30,000 after acquiring an additional 900 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Interpublic Group of Companies during the second quarter worth approximately $32,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Interpublic Group of Companies during the third quarter worth approximately $32,000. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Down 2.2 %

Shares of IPG opened at $29.23 on Thursday. The Interpublic Group of Companies, Inc. has a one year low of $26.88 and a one year high of $35.17. The company has a market cap of $10.89 billion, a P/E ratio of 13.79 and a beta of 1.10. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a 50 day simple moving average of $30.23 and a two-hundred day simple moving average of $30.45.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 earnings per share. Research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 4.52%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 62.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on IPG shares. Wells Fargo & Company restated an “underweight” rating and set a $26.00 price objective (down previously from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Bank of America reduced their price objective on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Macquarie restated a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. UBS Group downgraded shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and dropped their price target for the company from $34.00 to $29.00 in a research report on Thursday, September 12th. Finally, Barclays dropped their price target on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $30.57.

Interpublic Group of Companies Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.